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Sensitivity of energy system investments to policy regulation changes: too many, too fast?
JournalArticle (Originalarbeit in einer wissenschaftlichen Zeitschrift)
ID 4493229
Author(s) Bondarev, Anton; Weigt, Hannes
Author(s) at UniBasel Bondarev, Anton
Weigt, Hannes
Year 2018
Title Sensitivity of energy system investments to policy regulation changes: too many, too fast?
Journal Energy policy
Volume 119
Pages / Article-Number 196-205
Abstract In this paper we argue, that the interaction of energy policy regulations in the European electricity sector may be described by the slow-fast class of dynamical systems. Such systems may exhibit drastic changes in their dynamics known as bifurcations; one important being the so called blue sky catastrophe. Once reaching such a state, the slow system becomes unresponsive to the changes in the fast system. For the energy-policy nexus this translates into the energy system becoming unresponsive to policy interventions leading to a freeze in the system dynamics. Application of this result allows us to argue that caution is needed when updating economic policies to achieve a faster transition towards a low carbon energy supply structure. To avoid this risk the policy design should be aimed at long term incentive structures with less frequent but more consistent interventions.
Publisher Elsevier
ISSN/ISBN 0301-4215
Full Text on edoc No
Digital Object Identifier DOI 10.1016/j.enpol.2018.04.031
ISI-Number WOS:000439671200019
Document type (ISI) Article

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